[JimmyMac]

Great Britain also had a loan with the US regarding the Great World War I assistance.
In 1931 during their Depression, it was US President Herbert Hoover who declared a moritorium on ALL war debt effectively cancelling all US loans either way.
Great Britain at that time was actually owed more war debt money from other countries that it's obligation to the US.

There was a codicile in the September, 1945 loan agreement which allowed Great Britain to default on six payments. The government naturally took this initiative, however at higher interest on three occasions.